Indian shares are seen opening higher on Tuesday, tracking firm global cues.
IT stocks would be in focus as investors await earnings from tech giants. TCS will unveil its quarterly earnings on April 12, whereas Infosys’ earnings are due on April 13.
Adani Group stocks may also see increased activity after the Group listed out details of the $2.87 billion stake sales in group firms since 2019 and how $2.55 billion of this was ploughed back into business.
Benchmark indexes Sensex and Nifty ended a range-bound session marginally higher on Monday while the rupee gained paise to close at 81.97 against the dollar.
According to stock exchange data, overseas investors remained net buyers in Indian equities for the seventh day in a row on Monday.
Asian markets traded mostly higher, with Chinese inflation data, tensions across the Taiwan Strait and the Bank of Korea’s rate decision in focus.
Gold edged higher on a softer dollar as investors await U.S. inflation and retail sales reports and the release of Federal Reserve minutes from the March meeting to evaluate the potential for further policy tightening.
U.S. stocks ended mixed overnight, and the dollar rose as markets contended with uncertainty around the Fed’s actions following last week’s monthly jobs report.
The Dow rose 0.3 percent and the S&P 500 inched up 0.1 percent while the tech-heavy Nasdaq Composite ended flat with a negative bias.
European markets were closed for the Easter holidays.
Market Analysis
Sensex, Nifty Seen Tad Higher At Open
2023-04-11 02:31:10
